Market Analysts see Bit Digital Inc. [BTBT] gaining to $14. Time to buy?



Bit Digital Inc. [NASDAQ: BTBT] price surged by 0.90 percent to reach at $0.09. The company report on October 21, 2021 that Bit Digital Featured in The Wall Street Journal In-Depth Video Report.

Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a bitcoin mining company headquartered in New York with one of the largest currently-owned fleets among US listed bitcoin miners, was the focus of an in-depth video report by The Wall Street Journal on its operations and efforts to utilize carbon neutral energy sources for mining. The video was released on October 14, 2021.

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The video recording is available below:.

A sum of 6232866 shares traded at recent session while its average daily volume was at 23.25M shares. Bit Digital Inc. shares reached a high of $10.39 and dropped to a low of $9.454 until finishing in the latest session at $10.13.

The one-year BTBT stock forecast points to a potential upside of 27.64.

Guru’s Opinion on Bit Digital Inc. [BTBT]:

H.C. Wainwright have made an estimate for Bit Digital Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 23, 2021.

The Average True Range (ATR) for Bit Digital Inc. is set at 1.09, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 6.50. The Price to Book ratio for the last quarter was 4.80, with the Price to Cash per share for the same quarter was set at 0.83.

BTBT Stock Performance Analysis:

Bit Digital Inc. [BTBT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.75. With this latest performance, BTBT shares gained by 10.83% in over the last four-week period, additionally sinking by -24.80% over the last 6 months – not to mention a rise of 151.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BTBT stock in for the last two-week period is set at 47.54, with the RSI for the last a single of trading hit 44.90, and the three-weeks RSI is set at 48.62 for Bit Digital Inc. [BTBT]. The present Moving Average for the last 50 days of trading for this stock 10.64, while it was recorded at 10.63 for the last single week of trading, and 12.28 for the last 200 days.

Insight into Bit Digital Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Bit Digital Inc. [BTBT] shares currently have an operating margin of +5.32 and a Gross Margin at +17.26. Bit Digital Inc.’s Net Margin is presently recorded at +9.14.

Return on Total Capital for BTBT is now 5.32, given the latest momentum, and Return on Invested Capital for the company is 9.19. Return on Equity for this stock inclined to 9.19, with Return on Assets sitting at 8.66.

Reflecting on the efficiency of the workforce at the company, Bit Digital Inc. [BTBT] managed to generate an average of $128,290 per employee. Receivables Turnover for the company is 79.55 with a Total Asset Turnover recorded at a value of 0.95.Bit Digital Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.80 and a Current Ratio set at 18.80.

Bit Digital Inc. [BTBT] Insider Position Details

There are presently around $56 million, or 19.60% of BTBT stock, in the hands of institutional investors. The top three institutional holders of BTBT stocks are: STATE STREET CORP with ownership of 979,109, which is approximately New of the company’s market cap and around 23.20% of the total institutional ownership; BLACKROCK INC., holding 681,976 shares of the stock with an approximate value of $6.91 million in BTBT stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $5.05 million in BTBT stock with ownership of nearly 4744.755% of the company’s market capitalization.

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Positions in Bit Digital Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 49 institutional holders increased their position in Bit Digital Inc. [NASDAQ:BTBT] by around 5,090,280 shares. Additionally, 15 investors decreased positions by around 419,263 shares, while 3 investors held positions by with 10,151 shares. The mentioned changes placed institutional holdings at 5,519,694 shares, according to the latest SEC report filing. BTBT stock had 38 new institutional investments in for a total of 3,972,058 shares, while 7 institutional investors sold positions of 80,958 shares during the same period.



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